Nouveau Monde Graphite (CVE:NOU) Shares Up 5.5% – Here’s What Happened

Nouveau Monde Graphite Inc. (CVE:NOU)’s share price shot up 5.5% on Monday . The stock traded as high as C$3.40 and last traded at C$3.24. 108,430 shares were traded during trading, an increase of 29% from the average session volume of 83,890 shares. The stock had previously closed at C$3.07.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NOU. National Bank Financial upgraded shares of Nouveau Monde Graphite to a “hold” rating in a research report on Thursday, September 11th. National Bankshares set a C$3.50 price target on shares of Nouveau Monde Graphite and gave the company a “sector perform” rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$3.50.

Nouveau Monde Graphite Stock Performance

The stock has a market capitalization of C$493.33 million, a price-to-earnings ratio of -5.40 and a beta of 1.82. The company has a quick ratio of 1.29, a current ratio of 1.74 and a debt-to-equity ratio of 16.18. The stock’s 50-day simple moving average is C$3.24 and its 200 day simple moving average is C$3.24.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company's flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec.